Store and fetch recent exchange rates in our own database.

iokiwi / moneyapp

Parsing OFX files for personal budgeting and financial insights

Mozilla Public License 2.0

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Store and fetch recent exchange rates in our own database. #29

Open iokiwi opened 1 year ago

iokiwi commented 1 year ago

Calling out to an external API to get exchange rates on every request is suboptimal for several reasons.

Its not particularly performant
If the 3rd party service goes down we're in trouble
Either we will have to pay for API usage or we are placing unfairly placing unnecessary load on a service run for free.

We should keep a table in our database with a recent exchange rate and the time it was updated.

We can update the table on a schedule or inflight if the data has become 'stale' according.

iokiwi commented 1 year ago

I am considering a redis cluster for this just for the sake of learning redis :)

tehnools commented 1 year ago

cosmos db :D ?

abhinna1 commented 11 months ago

I would recommend using arq to schedule a CRON job for fetching and updating the rates in the local database. arq is a great library that allows you achieve this. PS. it's built using asyncio.

tehnools commented 2 months ago

For the in memory cache could use memcached as well it's a lot simpler than Redis and it's Open BSD license https://memcached.org/

tehnools commented 2 months ago

Do we want the exchange rates to be very accurate or are we ok to save the exchange rates eg. like 12am every night or something?